THE Shakers have launched a share scheme that will wipe out all the debts on their balance sheet.
It involves major shareholder, Hugh Eaves, capitalising £2million of his loans into shares. He will underwrite the new issue.
Shareholders will meet on April 23 to discuss the scheme and, if they approve it, they will be able to buy nine new shares - at £1 each - for each of their existing shares. Those shares not taken up will be offered to any other interested parties.
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